|
Durable goods orders jump
|
 |
February 25, 1999: 9:17 a.m. ET
January orders climb 3.9%, well above economists' estimates
|
NEW YORK (CNNfn) - Durable goods orders in January reported by the Department of Commerce Thursday caught many economists off guard, with new orders significantly stronger than expected.
New orders for durable goods increased in January by $7.7 billion, or 3.9 percent, from the previous month, the agency said. The gain, to $203.4 billion, is the seventh increase in the past 8 months and was far greater than the 0.5 percent decline predicted by analysts.
The December figure was revised up to 3.4 percent from the initially reported 3.1 percent.
Excluding transportation, new orders rose by 0.4 percent from a revised 3.7 percent in December.
Shipments of durable goods in January decreased $100 million to $195.7 billion, the first decline since May. Shipments have risen 7.4 percent in the year to date. Unfilled orders for durable goods jumped 1.6 percent to $502.8 billion, the first increase since August.
New defense capital goods industry orders were up for the second straight month, rising 11.1 percent, or $800 million, to $8.3 billion. Defense shipments climbed for the first time since October, jumping 6.4 percent to $7 billion. 
|
|
|
|
|
|
Department of Commerce
|
Note: Pages will open in a new browser window
External sites are not endorsed by CNNmoney
|
|
|
|
 |
|
